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A Government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably.
The Ethiopian Investment Commission (EIC) was established in 1992 to foster private investment sector in Ethiopia. [2] EIC is responsible for offering one-stop services to investors, issuing investment permits, registering technology transfer agreements and facilitating the acquisition of land, utilities and other service for investor.
The 1975 nationalization of major industries scared off foreign private investment. Private direct investment, according to the National Bank of Ethiopia, declined from 65 million birr in 1974 to 12 million in 1977. As compensation negotiations between the Ethiopian government and foreign nationals dragged on, foreign investment virtually ceased.
In 1975 the Derg nationalized more than 100 industries and took partial control of some of them. The main characteristics of the manufacturing sector inherited by the revolution included: a predominance of foreign ownership and foreign managerial, professional, and technical staffing; great emphasis on light industries; inward orientation and relatively high tariffs; capital-intensiveness ...
MIDROC Ethiopia was established in 1994. In 2011 it made a profit of 1.3bn birr (US$70m). [4]MIDROC has major gold mining interests in Ethiopia [5] [6] and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. [7]
Since its foundation, Addis Ababa has become home to many industries; food factories such as flour mills, bakeries, alcohol distilleries as well as printing press commenced in Addis Ababa in the 1890s. By the first decade of the 20th century, industrial activities became operational. A minting machine was installed in the Ghibi in 1903.
Made from high-quality PVC material, this robust faux Christmas tree is designed to look like the real deal. Choose from several sizes from 5-foot to 8-foot, all of which are on sale; however ...
METEC (acronym for Metals and Engineering Corporation) is an Ethiopian arms and machinery industry founded in 2010. [2] Being the state largest military industrial complex, it is responsible for the production of military equipment and civilian products. METEC works with foreign companies such as Alstom from France, and Spire Corporation from ...